LI market remains strong.Stable commercial vacancy rates throughout Nassau and Suffolk Counties during 2003 were strong indicators that the region has survived recent economic hardships and avoided major downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing . Continued demand for space combined with still--favorable interest rates have created an ideal environment for owners of industrial, office and retail properties to either purchase new facilities or refinance existing ones. Many of our clients took advantage of this climate. MRG MRG Merge MRG Minority Rights Group International MRG Mad River Glen (Vermont) MRG Mouvement des Radicaux de Gauche (French: Left Radical Movement) MRG Manyetik Rezonans Görüntüleme recently completed financing for seven properties located in Nassau Crossways International Plaza International Plaza may refer to:
The transactions--which total more than $44,000,000--were conducted on behalf of Tilles Investment Company. Among them were $5.6 million in financing for The Nassau Building, a 61,948 square-foot office building located at 7600 Jericho Turnpike; $2.5 million in construction and permanent financing Permanent financing Long-term financing using either debt or equity. permanent financing The long-term financing that supports a long-term asset. for the 22,601 sq. ft. adjacent property at 7550 Jericho Turnpike and a $25 million loan for the 289,305 sq.ft. office building at 1000 Woodbury Road. This year's low vacancies and robust demand continued to make Long Island's commercial marketplace fertile ground for major financing institutions. Financiers such as insurance companies, thrift institutions and commercial banks were increasingly eager to establish a presence in the region. This enabled MRG to expand our roster of correspondent relationships. In just the past few months, we entered into a new correspondent relationship with Summit Investment Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the investment division of Union Central Life Insurance Company Union Central Life Insurance Company was founded in Cincinnati, Ohio in 1867. It was established as a mutual insurance company. In 2005, it formed a mutual insurance holding company the Union Central Mutual Holding Company and converted the life insurance company to a stock . This new correspondent arrangement has already paid dividends as we've recently arranged financing totaling more than $6 million five Long Island commercial properties. This includes a $3.435 million in financing for a 33,171 sq. ft. shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into at 1161 to 1165 Old Country Road in Plainview, N.Y. and a $1.275 million loan for a 20,000 sq. ft. industrial building at 160 Terminal Drive, also in Plainview, N.Y. We also secured $1,300,000 in financing for three industrial buildings totaling 33,500 square feet at 1100, 1150 and 1300 Shames Drive in Westbury. These transactions are indicative of the resiliency of the Long Island economy and its ability to buck national trends. With the economy slowly beginning to rebound, the future looks bright for prosperity in both Nassau and Suffolk County commercial marketplaces. |
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